ikeGPS reports NZ$11M revenue for first half
- Platform subscription revenue reached ~NZ$11M for the September first-half period, representing a 22% increase compared to the prior corresponding period.
- Cash and receivables stood at ~NZ$36.4M with zero debt as of Sept. 30.
- New product launches in the second half of FY27 are expected to drive full ARR expansion.
ikeGPS (ASX:IKE) has released its performance update for the six-month period ended Sept. 30, highlighting a 22% increase in platform subscription revenue to ~NZ$11 million.
The operational surge reflects expanded adoption across North American electric utility and communications accounts compared to the previous corresponding period.
"Our view of the multi-year trajectory for the business is unchanged; in Sep YTD we are performing broadly to expectations," said IkeGPS Managing Director Glenn Milnes.
The company maintained a gross margin of around NZ$10.2 million, while cash and receivables stood at ~NZ$36.4 million with zero debt.
ikeGPS stated that its subscription exit run rate is expected to grow by more than 40% in FY27 compared to the prior period.
Following the announcement, the ikeGPS share price was up at $0.80.
The business continues to develop software solutions that streamline pole auditing and field data collection for infrastructure providers.
Its growing customer base includes major North American investor-owned utilities and engineering service providers using its AI-based PoleForensics and IKE Office platforms.
